(Photo by Yu Ruidong/China News Service/VCG via Getty Images)
Norway continued in 2020 to be the only market in the world where EVs outsold conventional ICE vehicles. This is now not only a monthly outcome, but EVs outsold ICE vehicles for the entire year of 2020 in Norway, holding 54% of total sales. The EV is expected to be even more dominant in 2021, and Norway is on track to become entirely electric for new car sales by 2025. This outcome is very encouraging to the EV makers, especially to the competitors to Tesla. In the past, EV and Tesla was almost synonymous, however, this has changed. Audi e-tron, and not Tesla, is the best selling EV in Norway. As the analysts in Norway says, there are now other options beside Tesla.
Norway is expected to continue to attract new EV product launches, before they are introduced to the other markets in Europe. I foresee more choices for the consumers in the years to come, and the wider variety of offers are likely to come from the traditional car manufacturers like Audi/VW, Volvo, Mercedes Benz, BMW, and probably even from PSA group. In other parts of Europe, EV sales have also increased, Germany's EV sales numbers more than tripled despite the pandemic, and despite the drop in total industry sales.
In China, though, we are likely to see Tesla reaping the fruits of their investment there. The sales increase in China will continue to fuel investor interest in their stock prices. At the point of writing, Tesla share have already reached record high of USD700. In 2020, almost half a million Teslas were delivered to customers, in 2021 it is projected to increase by at least 30%. So, Tesla is not losing sleep over Audi overtaking them in Norway.
For ICE cars, interestingly, they are also becoming more and more thirsty for energy. 12-volt batteries have regularly been upgraded to higher amps. My Honda Accord was previously fitted with 12V 45A battery but now 50A is the norm in Thailand. I project the power need to rise in the near future and more amps needed to power all the added electronics and gadgets in the car. I also foresee continued efforts to introduce mild hybrids, those 48V battery cars, and maybe some 24V cars that are needed to support the much more technologically loaded vehicles.
In short, the future looks good for EVs and 12V to 48V battery supply.